23 June 2023
Amsterdam-based IoT Spacetech startup Hiber makes restart following acquisition by FC Space a 100% subsidiary of Finch Capital
Hiber makes restart following the acquisition by FC Space a 100% subsidiary of Finch Capital;
Following the acquisition it will focus on Hiber Hilo, which provides an easy-to-install end-to-end IoT solution for monitoring remote wells anywhere on earth using reliable and affordable satellite connectivity for the Energy industry;
Hiber Hilo started as a joint venture between Hiber and WTS. Per July 1 2023 the Joint Venture will be transformed into a standalone company when the transfer of all relevant assets and employees of Hiber and WTS into the company has been completed;
Hiber Hilo serves several of the top 10 global Oil & Gas majors and has signed in the last weeks two additional new contracts and has activities now in all continents. The company continues to be lead by its 2 Managing Directors Erik Boertje and Simon Philipsen
The company's key shareholders following the restructuring are WTS and FC Space, who both provided additional funding to ensure the company is well capitalized and can accelerate its growth and continuous product development.
"We are very excited to be able to have One Team for One Company with a laser sharp focus. This focus on the further development and roll outs of our Well Integrity IoT Monitoring service is great and very well received by both our Engineers, Developers and Global Sales team and by our clients. We are currently working with 7 of the major Energy companies around the world. We are proud to be supplying this Environmental and Integrity IoT monitoring Technology to prevent well integrity issues and contribute to safer and cleaner operations for our clients in remote locations". Erik Boertje & Simon Philipsen, Managing Directors Hiber Hilo
“We are very excited to continue the journey Hiber embarked on together with WTS and support the team. We have been very impressed with the growth under the leadership of Erik, Simon and team and the product market fit they found in the Energy industry to help them on the energy transition. We remain committed to supporting the company with capital and our network to scale to the next level.” Radboud Vlaar, Managing Partner Finch Capital
“Well Integrity Monitoring in Remote locations is a very important focus for the Oil & Gas industry. Especially in remote locations where there are many unconnected wells, satellite enabled Well Monitoring is the best solution to get near real time data from the Wells and Pipelines. This prevents integrity and associated HSE problems. Many of our Global Clients have embraced the Hiber Hilo technology, including LoRaWAN, and are now in various stages of rolling out the Hiber Hilo Services for Integrity Monitoring in Africa, Middle East, Asia, and the Americas.” Frederik Rengers, Chairman of WTS Energy
Background on WTS Energy
WTS Energy is a global Services, Training and Staffing company focused on the Energy and Energy Transition industries with offices in over 20 countries and Clients around the world. We employ well over 1000 people working in many countries around the world on new and existing Energy projects. We train and develop the local and international workforce. WTS Energy Clients range from major international energy companies to renewable energy developers, large service companies and clean tech startups. WTS has offices in India, Middle East, East and West Africa, Europe, US and Mexico. For more info: www.wtsenergy.com
Background on Finch Capital and FC Space
FC Space is a 100% subsidiary of Finch Capital. Finch Capital is a growth investor in Europe's biggest tech transitions, active since 2013. We have made 45 investments to date and have EUR 500 million AuM. We have offices in Amsterdam, London and Dublin and have a presence in Asia. Our mission is to fund and support the best entrepreneurs creating products that will shape the future of the themes we invest in. We leverage our international network and industry expertise to enable our portfolio companies to grow into leaders in their field. For more information see www.finchcapital.com.